The Gold ETF appears to be at a crucial stage.The chart is at the 89Day SMA (a favourite of mine for reversals).
The chart is clearly in a falling wedge pattern.
The MACD Histogram is showing a positive divergence from price. So is the Slow Stochastic. Neither of those divergences mean a lot unless we also get a move up here. A move up here would be bullish for the Gold ETF.
A fall below the 89DSMA and the falling wedge would be bearish for gold. And bullish for the general australian market.
We shall see.
Cheers
Red
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